Seth Sadeq

What inspired you to start Kem, and what problem did you seek to solve in the financial sector?

We launched Kem less than two years ago to address a pressing issue: simplifying money transfers within Kuwait and the broader region. Our journey began when we recognized a significant gap in the financial sector—many individuals lacked access to basic financial services. Observing the global proliferation of digital wallets and applications providing convenient financial solutions, we saw an opportunity to bridge this accessibility gap. Our vision took shape during my frequent travels between the US and Kuwait; also having a fintech background in the US, I was able to easily identify the issues that needed to be addressed and was able to gather a high-level team who knows exactly how to develop a product people want to use. We firmly believe that financial services are a fundamental human right and should be universally accessible and convenient. Recognizing the systemic challenges within legacy institutions, we harnessed the potential of digital technology. Kem, as a fully digital company, enables users to access essential financial services with a simple app download, offering a hassle-free account setup in under 30 seconds. This empowers users to send and receive money effortlessly. Our commitment to inclusivity extends to our pricing model, with the core money transfer services provided free of charge.

What distinctive features or offerings set your fintech platform apart from others in the market?

Regionally, we offer a unique approach that distinguishes us from others in the market. Unlike traditional banks that typically require in-person registration, our digital onboarding and verification use AI and other advanced tools to offer a swift and easy KYC. When signing up for our application, all one needs is their first and last name, phone number, and a username to gain initial access to our services. There are no unnecessary barriers preventing anyone from signing up, and we facilitate instant payments. Kem meets everyone on a platform they are comfortable with. You can send money to anyone using their phone number, username, or contacts without the need for cumbersome link exchanges or sharing personal information.